Parex Resources Inc.

Good morning and welcome to the Perixx Resource First Quarter 2024 Operating and Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the presenters' remarks, there will be a question and answer session. If you'd like to ask a question during that time, press star followed by one on your telephone keypad. If you'd like to remove yourself from the queue, press star one again. I will now hand today's call over to Mike Cruton, Senior Vice President of Capital Markets and Corporate Planning. Please go ahead, sir.

Good morning. It's Mike Crookton, and on the call with me today are our President and Chief Executive Officer, Ahmad Molson, our Chief Financial Officer, Sanjay Vishnoy, and our Chief Operating Officer, Eric Ferland. Please note that at any time, telephone participants on the call can press star one to submit a question. As a reminder, this conference call includes forward-looking statements, as well as non-GAAP and other financial measures, with the associated risks outlined in our news release and MD&A, which can be found on our website or at cdarplus.ca. Note that all amounts discussed today are in US dollars, unless otherwise stated. I'll now turn the call over to Matt. Please go ahead.

Thank you, Mike, and good morning, everyone. Before we move to our first quarter operating and financial results, I'd like to share some high-level comments on how we are progressing our strategy and key milestones that we have recently achieved. As a reminder, in 2021, we introduced a Colombian growth This was based on a common vision from the board and management team to drive long-term sustainable growth in the country where we continue to see immense potential. Our strategy focuses on three key levers, and I'd like to highlight one key accomplishment under each today. The first lever of our strategy focuses on exploitation and technology. haven't been fully applied in country. We have run with this opportunity. We are now capitalizing on the competitive advantage that bringing proven technology to Colombia provides. The example of where this is paying dividends include our base business in Soca, where Capastero and Block34 are outperforming expectations. This is the result of strategically applying technology methods such as horizontals, water flooding, and polymer injection, which are allowing us to maximize recovery rates and minimize long-term decline rates. This is enabling the delivery of stable production with low capital investment going forward. Additionally, we are seeing pace setting drilling performance in Arakka, which Eric will cover shortly. Our second strategic lever focuses on capturing liquid-rich gas opportunity. With gas plays in Colombia significantly underexplored and the country already in gas shortfall that is forecast to persist, we see an attractive market that can be captured as well as we have shown in Vimoire. Over the last two years, we have been laying groundwork for a partnership with Ecopetrol to enter the high potential foothills region of Colombia, which culminated in an agreement announced last month. We view this deal as an inflection point for Barracks, making an expansion into the country's most prolific zone and establishing a unique opportunity to deliver an in-country gas solution for Colombia. Further, we see it as a vote of confidence in our technical capabilities and progressive stakeholder management approach that we will enter the foothills as an operator, something not often afforded to the smaller entity. Our final strategic lever is to deliver outside exploration potential. Colombia is where we see some of the most compelling onshore exploration prospects globally. This has been further enhanced by our Foothills deal, which in my mind is creating a further growth chapter comparable to what Block34 did for Barracks. We have and continue to strategically high-grade and expand our opportunity set, creating a diversified exploration portfolio that can offer some of the best risk-reward oil and gas targets that investors can find in public markets. In my view, this is a key differentiator for Pyrex, with our portfolio offering potential upside that can be found across all the resources placed in the Americas. With material progress visible across all three elements of our strategy, we are focused on delivering both short-term and long-term value. Operations year to date make me confident in our team's ability to execute on our 24 guidance, while also laying the foundation for sustainable growth for years to come. With that, we can move to the quarterly portion of the call. I'll now ask Eric to provide some comments specific to our year-to-date operational progress. Please go ahead, Eric.